Bollinger bands breakout Indicator For MT5

Bollinger bands breakout Indicator For MT5

The Bollinger bands breakout Indicator For MT5 works on a very simple idea. First of all, the bands are created with the help of simple moving average calculation along with the standard deviation. By closely noticing the price chart, you will notice small markings at the upper and lower band when the price drops.

The market is done when the price closes above the Bollinger band. But the traders should carefully select the time frame based on the market volatility as a lot depends on it. For instance, if the volatility is higher, it is imperative to rely on the bigger time frame like the D1 or the weekly.

On the contrary, when the volatility ceases down, the traders need to look at the smaller time frame data. But the user of the smaller time frame should rely on the price action signals. Unless they do so, they are going to deal with too many false signals. And always be aware of the major news data as the major breakout occurs on such critical financial events.

FREE Bollinger bands breakout Indicator

Download the FREE Bollinger bands breakout Indicator for MT5.

To receive my email 100% sure: 
Put my email on your whitelist!

 

Partially Automated Trading Besides Your Day Job

Alerts In Real-Time When Divergences Occur

My Recommended MT4/MT5 Broker

 

Installing the Bollinger bands breakout Indicator For MT5

After you downloaded the indicator via the form above you need to unzip the zip-file. Then you need to copy the file Bollinger bands breakout.mq5 into the folder MQL5\Indicators of your MT5 installation. After that please restart MT5 and then you will be able to see the indicator in the list of indicators.

Parameters of the Bollinger bands breakout Indicator For MT5

The Bollinger bands breakout Indicator For MT5 has 5 parameters to configure.

input int                 inpPeriod       = 20;          // Bollinger bands period
input ENUM_APPLIED_PRICE  inpPrice        = PRICE_CLOSE; // Price
input double              inpDeviations   = 2.5;         // Bollinger bands deviations
input double              inpZonesPercent = 20;          // Zones percent
input enDevType           inpDevType      = dev_regular; // Standard deviations type

Buffers of the Bollinger bands breakout Indicator For MT5

The Bollinger bands breakout Indicator For MT5 provides 9 buffers.

SetIndexBuffer(0,fupu    ,INDICATOR_DATA);
SetIndexBuffer(1,fupd    ,INDICATOR_DATA);
SetIndexBuffer(2,fdnu    ,INDICATOR_DATA);
SetIndexBuffer(3,fdnd    ,INDICATOR_DATA);
SetIndexBuffer(4,bufferUp,INDICATOR_DATA);
SetIndexBuffer(5,bufferDn,INDICATOR_DATA);
SetIndexBuffer(6,bufferMe,INDICATOR_DATA);
SetIndexBuffer(7,breakup ,INDICATOR_DATA); PlotIndexSetInteger(5,PLOT_ARROW,217); PlotIndexSetInteger(5,PLOT_ARROW_SHIFT,-10);
SetIndexBuffer(8,breakdn ,INDICATOR_DATA); PlotIndexSetInteger(6,PLOT_ARROW,218); PlotIndexSetInteger(6,PLOT_ARROW_SHIFT, 10);

Main Parts Of The Code

int OnCalculate (const int rates_total,
                 const int prev_calculated,
                 const datetime& time[],
                 const double& open[],
                 const double& high[],
                 const double& low[],
                 const double& close[],
                 const long& tick_volume[],
                 const long& volume[],
                 const int& spread[])
{
   int _copyCount = rates_total-prev_calculated+1; if (_copyCount gt rates_total) _copyCount=rates_total;
         if (CopyBuffer(_maHandle,0,0,_copyCount,bufferMe)!=_copyCount) return(prev_calculated);

   //
   //---
   //

   int i= prev_calculated-1; if (i lt 0) i=0; for (; i lt rates_total && !_StopFlag; i++)
   {
      double price; _setPrice(inpPrice,price,i);
      double deviation = iStdDeviation.calculate(price,i,rates_total);
      
      //
      //---
      //

      bufferUp[i] = bufferMe[i]+deviation*inpDeviations;
      bufferDn[i] = bufferMe[i]-deviation*inpDeviations;
      fupd[i]     = bufferMe[i]+deviation*inpDeviations*_bandsFillZone; fupu[i] = bufferUp[i]; 
      fdnu[i]     = bufferMe[i]-deviation*inpDeviations*_bandsFillZone; fdnd[i] = bufferDn[i]; 
      breakup[i]  = (close[i] gt bufferUp[i]) ? high[i] : EMPTY_VALUE;
      breakdn[i]  = (close[i] lt bufferDn[i]) ? low[i]  : EMPTY_VALUE;
   }         
   return(i);         
}

//------------------------------------------------------------------
// Custom function(s)
//------------------------------------------------------------------
//
//---
//

class cStdDeviation
{
   private :
      int    m_period;
      double m_periodDiv;
      int    m_arraySize;
      bool   m_isSample;
         struct sStdStruct
         {
            double price;
            double price2;
            double sum;
            double sum2;
         };
      sStdStruct m_array[];
   public:
      cStdDeviation() : m_arraySize(-1) {  }
     ~cStdDeviation()                   { ArrayFree(m_array); }

      ///
      ///
      ///

      void init(int period, bool isSample)
      {
         m_period    = (period gt 1) ? period : 1;
         m_isSample  = isSample;
         m_periodDiv = MathMax(m_period-m_isSample,1);
      }
      
      double calculate(double price, int i, int bars)
      {
         if (m_arraySize lt bars) {m_arraySize=ArrayResize(m_array,bars+500); if (m_arraySize lt bars) return(0); }

            //
            //
            //
            
            m_array[i].price =price;
            m_array[i].price2=price*price;
            
            //
            //---
            //
            
            if (i gt m_period)
            {
               m_array[i].sum  = m_array[i-1].sum +m_array[i].price -m_array[i-m_period].price;
               m_array[i].sum2 = m_array[i-1].sum2+m_array[i].price2-m_array[i-m_period].price2;
            }
            else  
            {
               m_array[i].sum  = m_array[i].price;
               m_array[i].sum2 = m_array[i].price2; 
               for(int k=1; k lt m_period && i gt =k; k++) 
               {
                  m_array[i].sum  += m_array[i-k].price; 
                  m_array[i].sum2 += m_array[i-k].price2; 
               }                  
            }         
            return (MathSqrt((m_array[i].sum2-m_array[i].sum*m_array[i].sum/(double)m_period)/m_periodDiv));
      }
};
cStdDeviation iStdDeviation;

//
//---
//

bool _checkHandle(int _handle, string _description)
{
   static int  _chandles[];
          int  _size   = ArraySize(_chandles);
          bool _answer = (_handle!=INVALID_HANDLE);
          if  (_answer)
               { ArrayResize(_chandles,_size+1); _chandles[_size]=_handle; }
          else { for (int i=_size-1; i gt =0; i--) IndicatorRelease(_chandles[i]); ArrayResize(_chandles,0); Alert(_description+" initialization failed"); }
   return(_answer);
}  
//------------------------------------------------------------------

 

About Me

I'm Mike Semlitsch the owner of PerfectTrendSystem.com. My trading career started in 2007. Since 2013 I have helped thousands of traders to take their trading to the next level. Many of them are now constantly profitable traders. 

The following performance was achieved by me while trading live in front of hundreds of my clients:

Connect With Me:  

Results From 5 Months!
This service starts soon! Be the first who get's notified when it begins!

This FREE Indicator Can Transform
Your Trading!

FREE Indicator + Telegram Group


Request the Ultimate Double Top/Bottom Indicator which is used by 10,000+ traders.